The bank will want something as a release of liability in selling the note to an individual or non-banking/mortgage company.

Stick to the SOW, and always verify work before releasing funds.

Once the new tenant starts paying rent, you release the old tenant from any obligations.

As for Santarelli’s claim of owningBodybuilding.com, a July 1, 2022 official press release from Bodybuilding.com states that: Source: ( Link )The only deception as brazen as these business model misrepresentations, is Santarelli’s concealing of the SEC-barred CFO of Norada Capital Management, Ron Fussum.Hiding the CFOIf you look at the LinkedIn profile of Norada Capital Management CFO, Ron Fossum, you will not see any reference to his position as CFO of the company ( Link ).

We welcome you to contact us and find out for yourselves who we are and why over 200 people have the confidence in our company to submit their docs immediately upon release of our projects to market.

I released them of duties earlier last month. 

“No, I’ll release the money on draws, that won’t happen…” Ok, so you need margin for when it’s 50% done and they say they can’t afford to get to the next draw point.

John has released books & does case studies regularly.

The one caveat being that when it comes time to sell or refinance one of the properties there may be a partial release clause, causing you to pay the bank back more (120%) than the original loan on that particular property.Happy to be a resource!  

The biggest thing you need to analyze is how easy is it to release this space if the the tenant leaves.